Residents purchasing health insurance through New Jersey’s official Affordable Care Act marketplace will face steep financial hurdles next year, with final figures showing an average premium hike of nearly 20%. According to data released by the New Jersey Department of Banking and Insurance (DOBI), individual health insurance rates across the state’s marketplace, known as Get Covered New Jersey, will increase by a weighted average of 19.8% for 2027 coverage.
The upcoming rate adjustments follow a significant average increase of 15.9% the previous year. State data indicates that roughly half a million New Jersey residents rely on the marketplace for health coverage, which serves individuals who lack access to employer-sponsored insurance, Medicare, or NJ FamilyCare.
Carrier-Specific Rate Increases for 2027
The statewide average of 19.8% encompasses varying rate adjustments across the five commercial carriers operating within New Jersey’s individual health insurance market. Increases differ markedly by company, with some insurers pushing rates well above the average benchmark.
UnitedHealthcare implemented the highest rate increase among the state’s carriers, raising its prices by 35.7% for 2027. Oscar followed with a 29.3% rate increase, while Ambetter from Wellcare New Jersey announced a 20.8% hike. Meanwhile, rate increases for AmeriHealth and Horizon Blue Cross Blue Shield of New Jersey fell below the state average, coming in at 17.0% and 15.3%, respectively.
In addition to the individual market, New Jersey’s small employer health market—which regulates group health insurance for businesses employing up to 50 workers—will see average premium increases of about 18.8%. Filings for the small group market included rate bumps of 19.5% for Horizon, 17.6% for AmeriHealth, and 17.6% for Oxford.
Drivers Behind the Cost Surge
State officials and health care advocates point to multiple factors fueling the rising costs. Prominent among them are the expiration and loss of pandemic-era federal premium tax credits and supports, alongside ongoing increases in the price of medical services and prescription drugs.
The broader national landscape reflects a similar upward pressure on medical costs, though New Jersey’s average increase exceeds the nationwide individual marketplace average of 15% analyzed by the Kaiser Family Foundation. Health advocates and insurance experts warn that the consecutive years of double-digit hikes will strain household budgets and force difficult coverage decisions for many residents, though many consumers will continue to qualify for financial assistance programs through the state exchange.
Open Enrollment Timeline
The annual open enrollment period for 2027 coverage on Get Covered New Jersey runs from November 1 through January 31, 2027. During this window, consumers can shop, compare plans, and review financial help options directly through the state’s official health insurance exchange or via participating insurance carriers.
